78(R) SB 1951 Introduced version

The bill would enable legislation for a constitutional amendment that would grant a patent on certain land managed by the School Land Board. The School Land Board, in consultation with the Veterans' Land Board, will determine the amount of consideration for the 35.686 acre parcel. According to Texas Education Agency (TEA), there will not be a significant fiscal impact on TEA nor the Foundation School Program due to this bill. It is assumed that the consideration has already been received or will be received and deposited to the Permanent School Fund. TEA stated that this has no direct or immediate impact on general revenue. The investment of the payment, which is expected to be only a few thousand dollars, will result in a few dollars of revenue in future years; this will likely not be a significant dollar amount.

This bill takes effect on the date on which the constitutional amendment proposed by the 78th Legislature, Regular Session, 2003, to permit the legislature to require the sale of certain land dedicated to the Permanent School Fund takes effect. If that amendment is not approved by the voters, this bill has no effect.

LEGISLATIVE BUDGET BOARD
Austin, Texas

FISCAL NOTE, 78TH LEGISLATIVE REGULAR SESSION


May 16, 2003

TO:	Honorable Bill Ratliff, Chair, Senate Committee on State Affairs

FROM:	John Keel, Director, Legislative Budget Board

IN RE:	SB1951 by Ratliff (Relating to the sale of certain land dedicated to the permanent school fund.), As Introduced